Weather Forecast Sends UNG Higher
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United States Natural Gas ETF (UNG) shares are higher today by 4.3 percent, extending a rally that began last Thursday when inventory builds came in below expectations. Today’s move is related to weather forecasts that call for six to ten days of hot weather, which could drive energy consumption.
In the past 5 trading sessions, UNG has gained over 15 percent. However, the price of natural gas futures are reaching previous resistance levels, and upside from her could be limited pending a significant breakout.
In the past 5 trading sessions, UNG has gained over 15 percent. However, the price of natural gas futures are reaching previous resistance levels, and upside from her could be limited pending a significant breakout.
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